BUMI Armada set a new all-time low of 76.5 sen on Aug 25 before turning range-bound on bargain hunting activity offsetting selling, undergoing consolidation or attempting to build a concrete base for recovery. Apparently, indicators are painting a mixed pictogram, implying this stock is likely to be trapped within a moderate band until a clearer picture emerges. A breach of the 21-day simple moving average of 92 sen may propel prices up to the RM1-RM1.03 area.
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